USDJPY short-term retracement to the 146 area, follow the breakout direction.

2025-06-23 20:00:35

In the brief breakthrough above the 38.2% retracement level of the decline from December to April at (147.11), USDJPY failed to maintain its rise. The failed breakout reversed the intraday sentiment, and sellers pushed the currency pair back into the clear fluctuation range of 145.92-146.24.

Subsequent scenario: Fall → Bearish bias: 145.47 (May minor pivot point) 144.66 (200-hour moving average) 144.42 (100-hour moving average)

Hold and rebound → Bullish reset: First obstacle 147.11 - (38.2% retracement level ) Key target 147.49 (Today’s highest price)

Currently, the price movement within the range of 145.92-146.24 will determine the next direction; pay attention to the momentum on either side of this pivot point to confirm the direction.

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